Delphi seen nearing deal on steering unit sale

Newswire

By David Bailey CHICAGO, Jan 30 (Reuters) - Delphi Corp. is expected to name a Los Angeles private equity firm as lead bidder for its steering systems division, according to a person familiar with the matter. Auto industry publication Automotive News reported on Monday that Platinum Equity LLC had edged out Cerberus Capital Management LP as lead bidder for Delphi's steering systems business, one of several lines the supplier plans to exit during its reorganization. The move would take ...

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